Money and Monetary Policy for the Twenty-First Century

About this video

In this conference, Jerry L. Jordan talks about the foundations of a market-based economy and the importance of understanding the concept of money. Jordan points out that honesty is critical to establishing credibility for a market system. He also emphasizes that creating a market-based economy is a gradual process with many challenges, but which will ultimately be successful. Jordan defines money as an entity that conveys information about relative prices and transactions. He discusses Ludwig von Mises and his ideas on inflation and deflation and warns against the misuse of terms such as money. Finally, he examines the idea of virtuous deflation.